Global equities returned to positive territory in January, resulting in a solid gain of 2% for the month. Overall performance however continued to lag significantly -- returns were 200 basis points (2%) below the Fund’s benchmark return for the month and 475 basis points (4.75%) below benchmark for the 12-month period ending January 31, 2015.
The net return after the first five months of the new plan year stands at 1.8898% (September 1, 2014 through January 31, 2015). For additional detail, please follow this link to the new monthly report on Fund performance prepared by Investment Services (http://www.queensu.ca/financialservices/contacts/investment/pensionplanreports.html).
Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.
For more information, please contact the Pensions Services unit of the Department of Human Resources.